By the way, do you know the story between two friends? They once met and one said that he slept early the night before and he saw a dream that he was playing basketball with the president. The other said that he went to a bar and got picked up by two models. His friend asked him why he did not call him to assist him in dealing with them. His reply was that he called but he was told that his friend was playing basktball with the president.
Chart and trade, kid. Take Velocity's offer of a $50k virtual account. If you really want to make it as a trader (what kind), you should get a job as a broker for 2 years. You will see clients trade successfully, and clients lose it all. It will give you clues as to which methods keep money around. Start with good defense. Good luck. And don't tell people you're at Harvard. Only a recruiter would care. Also, if you are inclined to do so, learn programming. Most of the jobs are in programming, if you want to work for a company.
I think the OP needs to define his terms. What does "better trader" mean? Who is the best trader out there? The one who makes the most money, or best risk-adjusted return? Highest sharpe ratio? Until you "know" what is that light at the end of the tunnel, you will constantly be running toward it as it seems to move further away (especially the faster you run). Just ask the Buddha. Non-withstanding the Hershey rants, trading is a results oriented business. You need to ask yourself what it is you want to do. You don't become a race car driver because you want to drive fast alone, you could move to Germany and cruise the Autobahn all day to do that. Do you want to work for a big bank? Hedge fund? Prop desk? trade solo? All the above? Then ask yourself Why you want to trade. You mentioned earlier money wasn't the primary motivation, so what is it? There are plenty of things you could do with your drive, pedigree and intelligence. Some of which might actually be useful to society. Good luck!
That sounds like a good plan, but can you elaborate on that a little? How much interaction do brokers really have with their clients? Aren't most trades placed online now anyway? In years of trading I've never called my broker to place a trade.
First off I would like to thank you for commenting, any and all input is appreciated. I don't know how I am being a copy cat, maybe you can explain that a little bit more. All I am trying to do is learn as much as I can. Is being a copy cat a good thing or a bad thing? What exactly do you mean by 'copy cat'? I will definitely download that book onto my Kindle and watch the movie as well, hopefully it will help me out a little bit more. I think the mind building idea is a good one, but I'm just trying to figure out right now is where to start? I like the idea and starting point that you mentioned as well, but where does this mind building process end? Can you post maybe some sort of data or links referencing mind building because this is the first time I have ever heard about it.
I already know that risk management is key. I know that finding a position to enter into is not necessarily the hardest part, but managing the risk is the hardest part. How can I build on this and be a better risk manager? I have the programs and quantitative side in place, I guess constant improvement for these quantitative programs to manage risk would be the thing to do, but whats after that? How can I manage risk better when that is done. I'm facing a little bit of a road block there and I know what to do, but what can I do to manage that risk a little bit better. I am a creative person by heart and I know I can create something someone hasn't thought about quite yet, but that takes time. Thank you for your post I do appreciate it dearly. If you have anymore input as well that would be great! Thank you.
I guess I deserved that for not being on key with my definitions, but I'm sure you get the point of what I was trying to accomplish.
Can you recommend any traders to follow via a subscription service and for the journals section as well? How do you think I can go about finding an actual, real life trader to watch them real time trading? Maybe going to actual firms and sending them my resume with that request in mind? I don't know maybe you can shine some light on that subject.
I plan on finishing academia, but I have good balance right now with the markets and school on my mind. I actually prefer it because the study of the markets correlate to the subjects I am studying in school. I agree with that quote completely, many things in life follow that quote and I'm a firm believer in simplicity. I will be taking you up on that offer and be PMing you sometime within the next few hours, thank you for this opportunity. I appreciate it greatly. Thank you.